Equity |
12 Months Ended | |||
|---|---|---|---|---|
Jun. 30, 2026 | ||||
| Equity [Abstract] | ||||
| EQUITY |
Common Stock
The Company is authorized to issue common stock with a par value of $0.001 per share. The Company has one class of common stock, which is classified as permanent equity.
On October 15, 2024, the Company effected a 1-for-5 reverse stock split. On February 20, 2026, the Company effected a 1-for-20 reverse stock split of its issued and outstanding common stock. All share and per-share amounts presented in the accompanying consolidated financial statements and notes have been retrospectively adjusted to reflect the stock splits for all periods presented, as applicable.
Initial Public Offering
On March 7, 2025, the Company completed its initial public offering, pursuant to which the Company issued 1,640,000 shares of common stock at an offering price of $4.00 per share, before giving effect to the subsequent 1-for-20 reverse stock split. Those shares represent 82,000 shares after giving retroactive effect to the February 2026 reverse stock split. The Company received gross proceeds of $6.56 million before deducting underwriting discounts and offering expenses.
Private Placement
During the year ended June 30, 2026, the Company issued 200,000 shares of common stock in a private placement for aggregate proceeds of $248,000. The Company recorded $200 in common stock and $247,800 in additional paid-in capital in connection with the issuance.
Shares Issued for Commitment Fee
During the year ended June 30, 2026, the Company issued 82,536 shares of common stock, after giving retroactive effect to the February 2026 reverse stock split, as a commitment fee in connection with an equity line of credit arrangement. The shares had an aggregate value of $500,000, of which $83 was recorded in common stock and $499,917 in additional paid-in capital.
Fractional Share Adjustments
In connection with the February 2026 reverse stock split, the Company issued 17,597 shares as a result of fractional share adjustments. As presented in the accompanying consolidated statement of changes in stockholders’ equity, the issuance increased common stock by $17 and decreased additional paid-in capital by $17, with no effect on total stockholders’ equity.
Shares Issued for acquisition of Acellent and stock-based compensation
During the year ended June 30, 2026, the Company issued 270,000 shares of common stock as a consideration for acquiring the entire issued shares of Acellent to an independent individual and as compensation for the seller to accept as a position of director and CEO of the Company. As a result, the acquired merely cash of $12,891 with $270 as common stock and $12,621 as additional paid-in capital, respectively, was recognized as acquisition of subsidiary. While the remaining fair value of the issue common stock of $1,734,009 was recognized stock-based compensation by increasing the additional paid-in capital. |